THE UK may have emerged from the longest double dip recession since the 1950s although growth in the construction sector remains weak – but one North Wales based firm has bucked that trend.

THE UK may have emerged from the longest double dip recession since the 1950s although growth in the construction sector remains weak – but one North Wales based firm has bucked that trend.

Watkin Jones Group has not only emerged unscathed, it’s arguably thrived.

The Bangor-based firm puts its success down to its diversity, operating in the homes, construction and the student accommodation market, both here and in England, said its managing director Mark Watkin Jones

He said: “Achieving a flexible business model and the ability to diversify is crucial for any business, but becomes paramount in recessions.

“Our business planning allowed us to identify a gap in the market and develop the student accommodation arm of the business, which now represents nearly 70% of our turnover. Alongside this, the launch of our sister company Fresh Student Living, which provides management services for student accommodation across the UK and has a first year turnover of £17 million.

“To ensure our business growth, we needed to develop a cross-border procurement plan, in order to survive; the work to sustain us as a company wasn’t available in North Wales.

Mr Jones said the governments in Cardiff Bay and Westminster must make growth a priority to ensure North Wales stays out of recession: “Government support remains key. Funding and grants do help, but sometimes this can be a short term solution. Long term economic growth and the creation of sustainable jobs should remain at the forefront of any government initiative.”

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